International Datacasting Corporation CEO Doug Lowther is stepping down, the company announced Tuesday.
Mr. Lowther, who took over as chief executive in May 2013, will stay on to support the implementation of the IDC strategy committee’s recommendation on how to optimize the company’s value. Once he steps aside, he will remain on the company’s board of directors.
IDC announced in February it was exploring strategic alternatives, including a possible acquisition. At the time, Mr. Lowther said IDC was in early talks with another party, with all discussions protected by a non-disclosure agreement.
The company said its strategy committee has since explored “several alternatives” and analysis of the alternatives is “well-advanced.” It said another update will come within the next few weeks.
“We thank Doug for his ongoing commitment to IDC, and look forward to his support in completing the work of the strategy committee," IDC chairman Christopher Van Staveren said in a statement.